How has the Direct Sales contributed to Indian Economy and Society?
India has high growth potential for MLM since it is one of the oldest form of selling. According to FICCI-KPMG report, it is expected that it will reach up to Rs. 64,500 crore billion in India by 2025. The MLM market has grown increasingly in the distribution of goods and services for the cosmetics, health and wellness products, water purifiers, consumer durables and vacuum cleaners.
This growth has been observed primarily due to key factors like rising income, rapid urbanization and increased consumerism in all the states of India.
According to report by KPMG, Direct Selling has made a great impact on the social and economic front as:
Additional Income Avenue: In the recent times of job instability, there is no job which guarantees stability of income. In that matter, MLM opportunity can provide you an additional source of income as well as enhancing skills of sales and marketing which can be applied to industries other than Direct Selling.
Empowerment of Women: This industry has opened up for women by providing self-employed opportunities. It facilitates work-life balance, which is very crucial for women in India. It is estimated in Financial Year 2013, it has provided self-employment to 3.4 million women as Distributors.
Growth of SMEs: Contribution of Direct Selling business to Make in India campaign through SME is highly notable. Make in India campaign has led to growth in SMEs by increased manufacturing. Many Direct Selling companies rely on SMEs for manufacturing their products or provide manufacturing raw materials and machines to SMEs.
Generating Employment opportunities: MLM generates employment, which enhances your sales and marketing skills. Even it utilises your technological know-how and sharpens your overall business operations management. Hence for young, for retired people, for women and for those seeking additional source of income, MLM has proven to be quite successful.
CSR Initiative: MLM not only generates routine employment but gives an opportunity to make a difference for the society and for the motherland. Example: Amway’s sunrise project for education and Avon’s Breast Cancer Crusade, Child Care by Amway
After going through all the advantages that India has gained through Direct Sales industry, wouldn’t you be prompted to start a company of your own?
How can you start your own MLM Company in India?
Your MLM Company can be: Ltd or Pvt. Ltd. It can also be a SSI firm. Also have a company Logo.
Become a member of IDSA (Indian Direct Selling Association) who governs Direct Selling Industry in India. It manages its problems and controls to stop the unethical and illegal mlm businesses in India.
Document Requirements: Corporate Identification Number (CIN), PAN number, Tax deduction and Collection Account Number (TAN), Tax payer Identification number which is same as CST/RST, Bank A/C number and Labour
Business Plan: Have a proper business plan with compensation plan for your business. This is needed to present to the banks/investors for loans/start-up funds.
Apart from all these, you need to have a product range/product/services to sell. And for the smooth business operation you need to have a good staff and MLM Software. A software like Ventaforce, which has proven its capability to successfully manage your day to day mlm business operations. Not only that, it supports growth as it is scalable as your business expands. It also incorporates latest technical facilities like Epins, Ewallet, Multi-lingual and Multi-currency.
This Republic Day, it is the right time to dream to make a difference to your society and Country! We at Ventaforce, always support and facilitate people to achieve their dreams into reality!